Good news from the golf course for Towergate Partnerships. No holes-in-one or double bogeys this time, quite the opposite in fact.

Backchat learns that Tim Johnson, chief executive of Towergate Underwriting Partnerships, has dropped a couple of points on his golf handicap.

How does this translate into good news, our perceptive reader will be asking. Well ask the boss, Peter Cullum.

He said: "He (Tim) was too good at golf. When he joined us his handicap was two, that scared me. It's dropped to five, so he must be doing some work."